Bangalore: The Government on Friday said an amnesty scheme for bringing back black money is not on the cards though it is working on regulatory mechanisms to eliminate its root cause in the face of "lots of legal impediments" to target those funds stashed abroad. Asked if there is a move for an amnesty scheme to bring back black money, Union Corporate Affairs Minister M Veerappa Moily said, "Whether the...
09:28 PM, Feb 10, 2012
New Delhi: There has been no headway in the Indo-Mauritius talks on the double taxation avoidance agreement (DTAA) as of yet. Government sources indicate that Mauritius is unwilling to allow taxation of capital gains as it feels the move will impact the country's economy. India was keen that investment from Mauritius be subject to capital gains tax because there was a lot of round-tripping. Companies were setting up subsidiaries in...
12:18 AM, Feb 09, 2012
The court hearings had gone on through all of August. On September 8, 2010, the Bombay High Court was packed to the rafters with newspaper reporters of all hues. There was a battery of lawyers representing the Government of India and telecom giant Vodafone. There were two judges who had been hearing the famous Vodafone tax case: DY Chandrachud and JP Devadhar. Though Devadhar was in Nagpur that day, he...
01:18 PM, Feb 07, 2012
New Delhi: India and Nepal will sign a new agreement for avoiding double taxation between the two countries when Finance Minister Pranab Mukherjee visits Kathmandu on Sunday. The treaty will replace the 1987 accord. Indian Foreign Secretary Ranjan Mathai is already in Kathmandu from Saturday ahead of the agreement signing to prepare for the meeting Mukherjee will have with his Nepalese counterpart, Barsha Man Pun. "My current visit is to...
10:59 PM, Nov 26, 2011
New Delhi: India and Nepal will sign a new agreement for avoiding double taxation between the two countries when Finance Minister Pranab Mukherjee visits Kathmandu on Sunday. The treaty will replace the 1987 accord. Indian Foreign Secretary Ranjan Mathai is already in Kathmandu from Saturday ahead of the agreement signing to prepare for the meeting Mukherjee will have with his Nepalese counterpart, Barsha Man Pun. "My current visit is to...
08:59 PM, Nov 26, 2011
New Delhi: The government has received information about Indians having accounts in Swiss banks and is taking appropriate action to bring back funds stashed abroad, Parliament was informed on Tuesday. "We have received some information with regard to some deposits in Swiss Bank", Finance Minister Pranab Mukherjee told the Rajya Sabha. "Whenever information about money deposited in any foreign bank account is obtained the same is first verified and then...
04:20 PM, Aug 02, 2011
New Delhi: While corporates and political parties lobby for better deal, ordinary tax payers are the ones who often get a raw deal during the budget. ‘Axe the Tax’, a CNN-IBN campaign has been taking people’s concerns to the Finance Minister for the last four years. Powered by citizens, the campaign has got finance ministers to change or tweak some of the outdated tax laws in the country. This year...
09:45 AM, Feb 26, 2011
Mumbai: India's fast moving consumer goods industry is hoping the upcoming budget will bring in concrete measures to tame spiralling inflation and viable tax structure to ensure continued growth. The 130-billion-rupee industry, which is the fourth largest sector in the Indian economy, has been reeling under the pressure of surging input costs and subsequent impact on profit margins. "Prices of agri-commodities are on the rise. Prices have risen by 30-35...
03:32 PM, Feb 24, 2011
New Delhi: Seeking equal treatment in investment and taxation between overseas and resident Indians, diversified conglomerate Hinduja Group on Sunday said amnesty must be given to bring back black money from foreign soil to India. In a pre-budget memorandum to Finance Minister Pranab Mukherjee, Hinduja Group Chairman SP Hinduja said, "Overseas Indian investment and taxation (must) be at par with resident Indians in all respects." Hinduja, who is also Chairman...
10:50 AM, Feb 20, 2011
New Delhi: The government on Tuesday said the pact with Switzerland to get details on illicit wealth stashed away in Swiss banks would be applicable only for prospective information and not for incidents of the past. "The new provision will be applicable only for prospective information and not for past information," Finance Minister Pranab Mukherjee told the Lok Sabha in a statement on signing of Protocol with Switzerland to amend...
06:23 PM, Aug 31, 2010
Tax experts feel that it's a move which could result in double taxation. ...
03:51 PM, Dec 31, 2009
The FICCI wants the US to address the contentious trade and taxation issues. ...
03:55 AM, Jun 24, 2009
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